Global phosphate fertilizer prices are rising
In the first two months of this year, a considerable recovery in prices for phosphate-based fertilizers have been seen on the global market due to the upcoming spring field work and the expected production cutbacks by a number of major producers, according to PhosAgro press release on the company’s financial performance in 2019.
“Since the beginning of the year, we have already seen a significant recovery in prices for phosphate-based fertilizers from minimum levels against the backdrop of the approaching spring season, the announced production cutbacks by a number of leading global producers and the high availability of fertilizers. In addition, there is a risk of restrictions on supply of fertilizer from China,” commented PhosAgro CEO Andrey Guryev. “The recovery in prices, together with expectations of growth in demand in those markets where the company has strong positions (the domestic market of Russia, Eastern Europe and Latin America), allow us to count on growth in sales volumes of final products and maintaining high business returns.”